Cohen & Steers (CNS) November AUM Down on Market Depreciation

Cohen & Steers CNS reported preliminary assets under management (AUM) of $71.2 billion as of Nov 30, 2019, down 1.1% from the prior-month level. Net inflows of $630 million were offset by market depreciation of $656 million and distributions of $758 million.

The company recorded total institutional accounts of $31.4 billion at the end of the month, down 1.3% on a sequential basis. Of the total institutional accounts, advisory accounts were $15.3 billion as of Nov 30 and the remaining were subadvisory accounts.

Cohen & Steers recorded $30.2 billion in open-end funds, down marginally from $30.4 billion a month ago. Also, closed-end funds were $9.6 billion, down 1.5% sequentially.

With operations across the globe, Cohen & Steers benefits largely from its well-diversified AUM. However, escalating expenses mainly due to its continued expansion efforts are expected to keep hindering bottom-line growth.

Shares of the company have surged 93.1% so far this year, outperforming the 9.7% rally of the industry.

Currently, Cohen & Steers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance and Upcoming Release

Franklin Resources BEN announced preliminary AUM by its subsidiaries of $691.3 billion for November 2019. Results displayed a marginal decrease from $693.1 billion recorded as of Oct 31, 2019. Net outflows were partly offset by net market gains.

Invesco’s IVZ preliminary month-end AUM of $1,201.9 billion for November 2019 increased marginally from the prior month. The rise was primarily driven by favorable market returns, partially offset by net long-term outflows and the unfavorable impact of foreign exchange.

Legg Mason LM is expected to report November AUM figures in the next few days.

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Invesco Ltd. (IVZ) : Free Stock Analysis Report
 
Franklin Resources, Inc. (BEN) : Free Stock Analysis Report
 
Cohen & Steers Inc (CNS) : Free Stock Analysis Report
 
Legg Mason, Inc. (LM) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research